Update on Corporate Activity (5046H)

TIDMIEL

RNS Number : 5046H

Indian Energy Limited

31 May 2011

Indian Energy Limited

("Indian Energy" or the "Company")

Update on Corporate Activity

The Board of IEL wishes to update the market following the announcement of 1 April 2011. As stated in the Pre-Close Statement, the Company has received a number of approaches and has been actively pursuing these. The Board is pleased to announce that it has now entered in to a period of exclusivity with one party which may or may not lead to an offer for the Company. If an offer is made, it is likely to be at a premium to the current share price.

Enquiries:

Indian Energy Rupert Strachwitz +44 20 3411 3640

Shantanu Bagchi +91 22 4208 6666

Arden Partners Chris Hardie +44 20 7614 5917

NOMAD & Broker

Pelham Bell Pottinger Archie Berens +44 20 7861 3112

Financial PR

Notes to Editors:

Indian Energy is an independent power producer, focused on acquiring, building and operating wind farms in India. The Group currently owns and operates two wind farms: a 24.8 MW wind farm at Gadag Plains, near Hubli in Karnataka and a 16.5 MW wind farm at Theni in Tamil Nadu. Indian Energy's medium term objective is to own a portfolio of wind farms in India with 300 MW of annual generating capacity by Q1 2013. Wind power is India's primary source of renewable power (excluding large hydro) and is set to remain an important power source for the country.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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